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Textile sector: PTEA laments high RLNG prices

FAISALABAD: The Pakistan Textile Exporters Association (PTEA) has expressed concern over high RLNG prices, part of which is the recovery component of distribution losses and cost of supply to the textile sector. Inclusion of such charges in RLNG prices has increased the production cost, rendering us unviable within the region, …

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Brazil envoy says Pakistan investment-friendly

KARACHI: The Federative Republic of Brazil Ambassador to Pakistan Claudio Lins has said that ‘misinformation and false information’ about the safety and security situation discourages Brazilian investors from visiting or investing in Pakistan, which can be addressed by exchanging more trade missions. Speaking during his visit to the Karachi Chamber …

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$8-billion main rail-link: ML-1 project to be kept outside PSDP

ISLAMABAD: The government has decided to complete the $8 billion project meant to upgrade Pakistan’s main rail link ML-I that connects the country’s north to the south by keeping it outside the Public Sector Development Programme, a move aimed at avoiding its impact on the country’s limited pool of development …

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Currency: Dollar rebounds from earlier 2% fall to hit one-week high

NEW YORK: The dollar rose in early North American trading as investors re-evaluated the impact of the victory of Republican Donald Trump in the US presidential election. The dollar had fallen 2% in the aftermath of Trump’s shock win over heavily favored Democrat Hillary Clinton, kindling fears of economic and …

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Textile sector concerned after Trump’s election

KARACHI: The shocking result of the US presidential election has generated a little bit of anxiety among Pakistani textile exporters who believe political uncertainty in the US may harm their exports. “The current situation indicates that the dollar may weaken in the short term, which will negatively affect Pakistani textile …

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Yet another amnesty scheme proposed for real estate sector

ISLAMABAD: A parliamentary panel on Tuesday finalised a proposal to give yet another tax amnesty scheme to the real estate sector by offering investors to declare their hidden assets by paying a nominal rate of only 3%. A subcommittee of the National Assembly Standing Committee on Finance formalised its recommendations …

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Markets in free fall as Trump moves into lead

Markets went into free fall Wednesday and the Mexican peso tanked as Donald Trump appeared to be moving into the lead in the race for the White House. Safe haven assets rallied as investors went running for cover, with the yen and gold rushing higher. Trump, Clinton locked in tight …

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World Bank to help Pakistan design new tariff policy

ISLAMABAD: The World Bank has agreed to provide technical assistance to Pakistan in its efforts to frame a new tariff structure aimed at giving a boost to national exports and government revenues. The offer of technical assistance came after a proposal in that regard was floated by Commerce Minister Khurram …

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New Islamabad Airport will further promote the progressive image of Pakistan: PM

ISLAMABAD: Prime Minister Nawaz Sharif on Tuesday said that the new Islamabad Airport will be an icon of excellence and will further promote the progressive image of Pakistan. The prime minister expressed these views while chairing a meeting on Pakistan International Airlines (PIA) and aviation affairs at the PM House. …

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Line sticks to the global shadows despite splashy IPO

LISBON: It staged one of the year’s biggest IPOs but messaging app Line, while a huge draw among teens in Asia, says it has no big ambitions to take on Western giants such as Facebook on their home turf. The Japan-based company known for its popular cartoon “stickers” — a …

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